Twitter drops after debut; Tesla still in doghouse

SaumyaVaishampayan

SAN FRANCISCO (MarketWatch) — Twitter Inc. lost ground on Friday following its dazzling debut, while investors continued to punish Tesla Motors Inc. for a third fire in six weeks that left a Model S smoldering on the road in Tennessee.

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With Twitter's gangbusters IPO on Thursday, how much money could you have made with $1,000 if you got in at the starting price? What other tech IPO's have paid off handsomely? How handsomely? WSJ's Jason Bellini has #TheShortAnswer. Image: Associated Press

Tesla
TSLA, +0.29%
fell 3.5% after the company confirmed another mishap. The latest incident was also a result of an accident which caused significant front-end damage but the driver was not injured, according Liz Jarvis-Shean, director of global communications at Tesla. The stock has lost 17% so far this week.

However, Jamie Albertine, an analyst at Stifel Equity Research, told MarketWatch on Thursday that the focus on fires is misplaced. “Cars catch on fire all the time,” he said. “The focus should be on what the company is trying to become.” Albertine has a hold rating on Tesla.

Decliners

Shares of home builders were weak as a strong U.S. jobs report sparked concerns that the Federal Reserve may start to ease back on its bond-buying program sooner than expected. The U.S. economy added 204,000 jobs in October, above the 100,000 jobs forecast by economists polled by MarketWatch. Lennar Corp.
LEN, +0.74%
fell 5.3%, PulteGroup Inc.
PHM, -0.53%
dropped 5.4%, and D.R. Horton Inc.
DHI, +1.79%
retreated 3.2%.

Cablevision Systems Corp.
CVC, -1.08%
shares declined 5.1%. The cable operator on Friday reported its third-quarter profit rose to $1.10 a share from a loss of a penny a share a year earlier. However, it also said it lost 37,000 video customers, 18,000 voice subscribers and 13,000 high-speed data customers since the second quarter.

Gainers

Groupon Inc.
GRPN, -1.75%
shares surged 7.5%. The company on Thursday posted adjusted earnings of 2 cents a share that beat analyst estimates, but its 5% revenue growth fell short of Wall Street expectations. Groupon Chief Executive Eric Lefkofsky underscored mobile adoption in a statement, pointing to the record 9 million app downloads in the third quarter. Groupon shares were volatile in after-hours trade Thursday, and have nearly doubled in value this year.

MetLife Inc.
MET, -0.50%
gained 5.6%. The insurer said in a 10-Q filing on Thursday that by 2016, more than 20% of its operating earnings will come from emerging markets, due in part to the acquisition of Provida.

Lincoln National Corp.
LNC, +0.03%
shares rose 6.1%. Analysts at Deutsche Bank earlier this week raised the stock’s target price to $52 from $50, noting that its earnings momentum is supported by market conditions and initiatives taken by the company.

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